EMI Loan & Amortization Calculator — ZYCalculator

An EMI calculator computes exact monthly loan installments using the reducing balance formula for home loans, car loans, and personal loans with full amortization schedules.

Formula & Method

EMI = [ P × r × (1 + r)^n ] / [ (1 + r)^n - 1 ] | Reducing Balance Amortization

How to Use

  1. Enter Principal Loan Amount: Input total loan amount or select standard preset (Home, Car, Personal Loan).
  2. Set Annual Interest Rate & Tenure: Specify annual interest rate percentage and loan duration in years.
  3. View Amortization Schedule & Download CSV: Review monthly installment, total interest payable, principal vs. interest breakdown, and export CSV.

Frequently Asked Questions

How is monthly loan EMI calculated?

EMI is calculated using reducing balance formula: EMI = P × r × (1+r)^n / ((1+r)^n - 1), where P is principal loan amount, r is monthly interest rate, and n is total months.

What is the difference between reducing balance and flat rate EMI?

Reducing balance calculates interest only on the remaining unpaid loan balance, resulting in significantly lower total interest compared to flat rate loans.